hOMES: Weekly Insight Into Hoboken and Downtown Jersey City Real Estate Trends | MAY 4, 2017

Hoboken Real Estate Trends | May 4, 2017

by Ann Wycherley
Broker Associate, Century 21 Innovative Realty

23 new listings hit the market in Hoboken and 15 places in Downtown Jersey City.

The average price for a one-bedroom this week is $566,000 so here’s a look at what approximately $500K will get you around the world:

 

A one-bedroom with sea views in Siracusa, Sicily will cost you $437,000

 

 

 

 

 

A 2 bed/2 bath in Melbourne, Australia has a price tag of $462,000.

 

 

 

 

 

And close to my own heart, a 2 bed/2 bath duplex in Dublin, Ireland will set you back by $470,000

 

 

 

 

Now let’s take a deeper look at the market a wee bit closer to home…

HOBOKEN:
Studio/ 1-Bedrooms
New Listings:
7 new listings. The average price is $566,571 and the average price per sq/ft is $721.
Sold Properties:
6 properties closed. The average price was $595,833 and the price per sq/ft was $804.

2-Bedrooms
New Listings:
15 new listings. The average price is $751,793 the average price per sq/ft is $685.
Sold Properties:
9 properties closed. The average price was $837,833 and the average price per sq/ft was $763.

3-Bedrooms
New Listings:
1 new listings. The price is $1,248,000 and the price per sq/ft is $777.
Sold Properties:
No sold properties.

Single-Family Homes
New Listings:
No new listings this week.
Sold Listings:
No properties closed this week.

DOWNTOWN JERSEY CITY:
Studio/ 1-Bedrooms
New Listings:
5 new listings. The average price is $683,600 and the average price per sq/ft is $828.
Sold Properties:
3 properties closed. The price was $626,000 and the price per sq/ft was $890.

2-Bedrooms
New Listings:
10 new Listings. The average price is $777,578 and the average price per sq/ft is $783.
Sold Properties:
4 properties closed. The average price was $812,249 and the average price per sq/ft was $688.

3-Bedrooms
New Listings:
No new listings.
Sold Properties:
2 properties closed. The average price was $1,422,000 and the average price per sq/ft was $747.

Single-Family Homes
New Listings:
2 three-bedroom homes listed for $1,145,000 and $1,250,000
Sold Listings:
No sold properties.

(Information provided by Hudson County MLS)

CLICK HERE to learn more about these and other properties…
CLICK HERE to find out how much your property is worth in today’s market…

Mortgage Market in Review:
There has been upward pressure on rates this week, as the Equity markets have rallied. This rally is based on the anticipation of substantial tax reform, as well as strong corporate earnings being reported. This has caused a sell-off in the bond market, which means an uptick in mortgages rates. Whether or not the current upward trend will continue should depend on the markets’ ability to make continued gains. Much of this will be based on how feasible investors feel tax reform truly is. One thing that can cause a setback to this is geopolitical risk…

CLICK HERE for a more detailed analysis from local mortgage broker Michael Mundy…

ALSO OF INTEREST:
4 Costly Real-Life Lessons Learned By Buying a Home (realtor.com)

Developer Unveils Plans for 45-Story Jersey City Tower (JerseyDigs.com)

Garden Street Farmers’ Market to Open Saturday

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Ann Wycherley is an award-winning realtor with over 15 years of solid real estate experience in the Hoboken and Jersey City market.

She has been recognized by the New Jersey Realtors Circle of Excellence for many years, having earned the Gold Level of Excellence for 2015 and 2016, meanwhile awarded Lifetime Membership in the New Jersey Association of Realtors Distinguished Sales Club.

Other accolades include the coveted Centurion Award for the past five years running (2012-2016), which represents the premium level of achievement within the Century 21 organization.